Is Private Mortgage Insurance a cash flow killer?

[Chris Stromdahl]

Should I be preoccupied with avoiding deals where I risk having to pay PMI on the loan?

[Josh Mitchell]

@Chris Stromdahl yes the closer you are to 80% LTV the less PMI % you were pay. Your credit score is also another determinate banks use to put you in a category. Basically, they have a columns ex: 720+ credit score with 85-90% LTV = x% of PMI. So the better credit score, and lower LTV, the lower the PMI will be monthly for you. It will automatically drop off at 78%, but make sure you call bank when you reach 80% to request it be taken off!!! Hope this helps!